In High Sulfur Fuel Oil (HSFO), the 3.5% bgs and Sing 380 contracts saw a strong rally in the past two weeks, with the strength in the East exceeding that of its European counterpart, with the Dec’24 E/W rallying from $4.00/mt on 1 Nov to highs of $15.00/mt on 13 Nov. The European and Asian HSFO cracks have started to soften from highs, which reached 13 Nov, with some heavier selling from trade houses. There has been more action in the Visco markets, with the outright Dec’24 visco sold into by trade houses and the 180 markets better offered.
